The announcement set off a wave of nostalgia for the tubular yellow-cake treats and propelled
the sales of Twinkies, with consumers emptying shelves and scavengers seeking to sell them for
hundreds of dollars on eBay.

Reportedly among the leading bidders is C. Dean Metropoulos and Co., a private equity firm that
also owns Pabst Blue Ribbon.

Separately, Hostess is also selling off its bread business, including Nature’s Pride and Wonder,
which attracted

13 bidders.

The Hostess cake business — also including Donettes, Ding Dongs and Ho Hos — posted nearly $1
billion in sales last year, according to figures from SymphonyIRI Infoscan, which don’t include
sales at Wal-Marts.

And although Twinkies have dominated coverage of the company’s demise, Hostess actually sold
many more doughnuts and cupcakes. Twinkies sales totaled

$73.7 million, according to the figures.

The bakeries where the cakes are made are likely to be acquired by the bidders, a source said,
because such facilities are scarce.

The return of Twinkies and other brands, however, wouldn’t necessarily mean that former company
employees will regain their jobs.

Hostess’s bankruptcy was precipitated, according to the company, by the union refusing wage and
benefit concessions that management had demanded.

However, a union representative said last week that for any of the bidders, the former workers
offer the best chance of restarting operations swiftly.

“The bakers look forward to the next phase for these iconic brands that past generations have
grown up with. As a fourth-generation baker, believe me, I know,” David Durkee, president of the
Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, said in a
statement.

“While we don’t know what the outcome will be of either the auction process or who will be hired
to work in the plants, what we do know is that our members provide new owners the best chance of
success in a seamless revival of operations.”